Fuel Fix

(Photo by Eddie Seal for Bloomberg News)

U.S. oil rig count jumps up by a dozen, the first increase in 2015

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The amount of U.S. rigs drilling for oil increased for the first time this year after 29 consecutive weeks of declines.

U.S. oil rig count jumps up by a dozen, the first increase in 2015

on
(Photo by Eddie Seal for Bloomberg News)
The amount of U.S. rigs drilling for oil increased for the first time this year after 29 consecutive weeks of declines.
(AP Photo/Gerald Herbert, File)

BP to settle Deepwater Horizon claims for $18.7 billion

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BP has agreed to pay a record $18.7 billion to settle the federal and state claims against it for its role in the Deepwater Horizon oil spill, sidestepping years of litigation with a promise to pour funds for nearly two decades into efforts to repair vast environmental damage in the Gulf region.
Categories: featured, Gulf oil spill

    Jeff Allyn, a derrick hand with Raven Drilling, pauses with a cup of coffee while drilling for oil in the Bakken shale formation on July 23, 2013 outside Watford City, North Dakota. (Andrew Burton/Getty Images)

    Shale drillers’ safety net is vanishing

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    SandRidge, the Oklahoma City-based producer, had about 90 percent of its oil and natural gas liquids output hedged in early 2015, according to a regulatory filing. Next year, the hedges cover less than a third.
    Categories: featured, Shale
A CHC helicopter

How to escape from a sinking helicopter (photos)

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Helicopters are the leading cause of death for offshore oil and gas workers, far outpacing fatalities from explosions and heavy rig equipment. Houstonia magazine goes inside the underwater escape training course that offshore workers complete before taking their first trip.
(Andrey Rudakov/Bloomberg)

Shell abandons plans for $20B Gulf Coast plant

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Royal Dutch Shell said Thursday it is abandoning plans for a massive gas to liquids project envisioned for Louisiana, citing poor economics for the project that was expected to cost more than $20 billion.
Categories: Natural gas

Crewmen work a site for TransCanada's Keystone XL project in Wood County, Wednesday, Oct. 24, 2012, in Winnsboro. (Cody Duty / Houston Chronicle)

Keystone South won’t deliver oil before mid-January

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The company’s bulletin Thursday was “clarification to our customers.”
Categories: Keystone XL
(Image: Fotolia)

Oil gains on U.S. growth; natural gas soars

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Natural gas added 17 cents to $4.13 per 1,000 cubic feet, the highest closing price since May 29.
Categories: Crude oil, Natural gas
Roustabouts take time off from their job in oil boom town

Life in the early Texas oil booms (photos)

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This isn’t the first time oil has gushed from Texas wells at a record rate and sent towns around state the state into an economic boom. See how life in Texas changed in towns like Kilgore, Freer and elsewhere after the Texas oil explosion:
Categories: Crude oil, featured, Texas
Ocean_wave

Study: Atlantic drilling could give economy $23.5B boost

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If companies were allowed to drill for oil and gas in Atlantic waters off the East Coast, the work would help create nearly 280,000 new jobs and contribute some $23.5 billion to the U.S. economy each year by 2035, according to a study unveiled Thursday by two industry trade groups.
(Image: Fotolia)

Wall Street spends nearly $6B on energy IPOs in 2013

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Master limited partnerships – tax-advantaged corporate structures most often affiliated with pipeline operators – dominated the industry’s Wall Street debuts this year.
Categories: Deals